Wall Street analysts forecast that Steelcase Inc. (NYSE:SCS) will report earnings per share of $0.16 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Steelcase’s earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.15. Steelcase reported earnings per share of $0.22 in the same quarter last year, which would suggest a negative year-over-year growth rate of 27.3%. The business is scheduled to report its next earnings report on Tuesday, March 20th.
On average, analysts expect that Steelcase will report full-year earnings of $0.82 per share for the current fiscal year, with EPS estimates ranging from $0.81 to $0.82. For the next fiscal year, analysts expect that the company will report earnings of $0.96 per share, with EPS estimates ranging from $0.92 to $1.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Steelcase.
Steelcase (NYSE:SCS) last announced its quarterly earnings results on Tuesday, December 19th. The business services provider reported $0.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.22. The company had revenue of $772.10 million for the quarter, compared to analysts’ expectations of $762.37 million. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. Steelcase’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS.
Shares of Steelcase (SCS) traded down $0.30 during mid-day trading on Friday, hitting $13.90. 1,373,051 shares of the company were exchanged, compared to its average volume of 764,255. The stock has a market cap of $1,610.00, a PE ratio of 15.62 and a beta of 1.20. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. Steelcase has a 12 month low of $12.50 and a 12 month high of $18.15.
The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Thursday, December 28th. Steelcase’s dividend payout ratio (DPR) is presently 57.30%.
In related news, Director Peter M. Wege II sold 13,300 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the sale, the director now owns 254,244 shares of the company’s stock, valued at approximately $3,849,254.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sara E. Armbruster sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $14.80, for a total transaction of $44,400.00. Following the sale, the vice president now directly owns 69,870 shares in the company, valued at approximately $1,034,076. The disclosure for this sale can be found here. Corporate insiders own 18.87% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of Steelcase by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,191,041 shares of the business services provider’s stock worth $18,105,000 after buying an additional 81,291 shares during the last quarter. AMG National Trust Bank bought a new position in shares of Steelcase in the 4th quarter worth $214,000. Wells Fargo & Company MN increased its holdings in shares of Steelcase by 6.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,685,216 shares of the business services provider’s stock worth $25,614,000 after buying an additional 108,452 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Steelcase by 1.5% in the 4th quarter. Greenleaf Trust now owns 589,681 shares of the business services provider’s stock worth $8,963,000 after buying an additional 8,704 shares during the last quarter. Finally, Verity Asset Management Inc. bought a new position in shares of Steelcase in the 4th quarter worth $183,000. 62.79% of the stock is currently owned by institutional investors and hedge funds.
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Steelcase Company Profile
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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